教師資料查詢 | 類別: 期刊論文 | 教師: 聶建中 NIEH, CHIEN-CHUNG (瀏覽個人網頁)

標題:Does Microtherm Boost Pharmaceutical Companies’ Market Capitalization Returns?
學年106
學期1
出版(發表)日期2017/08/30
作品名稱Does Microtherm Boost Pharmaceutical Companies’ Market Capitalization Returns?
作品名稱(其他語言)
著者Yu-Sheng Kao, Hao-Yang Sun, Nieh, Chien-Chung and Kai Zhao
單位
出版者
著錄名稱、卷期、頁數Applied Economics 50(14), p.1522-1535
摘要The purpose of this study was to survey the relationship between the temperature factors and market capitalization returns of pharmaceutical companies by analysing both the daily and weekly frequency data in Taiwan. The threshold regression model with the GJR-GARCH process was applied for examination in this study; we found that pharmaceutical companies’ market capitalization returns could be boosted after exposure to extremely low temperatures for a period of time. Besides, the delayed effect of cold weather is demonstrated to exist. This phenomenon can be illustrated by epidemiological evidence-related mental factors, not by traditional behavioural finance. Moreover, lower weekly average temperatures are beneficial for investors to gain weekly pharmaceutical companies’ market capitalization returns. We are of the opinion that our findings offer an insightful suggestion for investors to buy pharmaceutical stocks at an opportune moment.
關鍵字Microtherm;pharmaceutical stocks;threshold model;GJR-GARCH model
語言英文
ISSN
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別中華民國
公開徵稿
出版型式,電子版,紙本
相關連結
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